Created by the Tax Reform Act of 1986, the LIHTC program gives State and local LIHTC-allocating agencies the equivalent of approximately $10 billion in annual budget authority to issue tax credits for the acquisition, rehabilitation, or new construction of rental housing targeted to lower-income households.

The Low-Income Housing Tax Credit (LIHTC) subsidizes the acquisition, construction, and rehabilitation of affordable rental housing for low- and moderate-income tenants. The LIHTC was enacted as part of the 1986 Tax Reform Act and has been modified numerous times.

Apr 26, 2023 · The low-income housing tax credit (LIHTC) program, which was created by the Tax Reform Act of 1986 (P.L. 99-514), is the federal government’s primary policy tool for the development of affordable rental housing.

CTCAC allocates state and federal tax credits to qualifying affordable housing developments as well as oversees a 55-year Compliance period for each project receiving credits.

The Low-Income Housing Tax Credit (LIHTC) is a federal program in the United States that awards tax credits to housing developers in exchange for agreeing to reserve a certain fraction of rent-restricted units for lower-income households. [1]

Learn how to qualify for a Low-Income Housing Tax Credit apartment. This easy-to-read guide covers all of the requirements to get housing with the LIHTC program.

Discover affordable housing in Santa Rosa where there are 92+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now. 1405 Townview Avenue, Santa Rosa, California 95405. 1018 Bellevue Avenue, Santa Rosa, California 95407.

May 19, 2024 · What Is the Low-Income Housing Tax Credit? The Low-Income Housing Tax Credit (LIHTC) is a tax incentive for housing developers to construct, purchase, or renovate rental housing for low-income...

Aug 11, 2020 · As part of the Tax Reform Act of 1986, policymakers created the Low-Income Housing Tax Credit (LIHTC) to address the mismatch between housing supply and demand by encouraging developers to build units specifically allocated for residents with incomes below their area median income (AMI).

The Housing Tax Credit Program (LIHTC) is designed to provide for-profit and nonprofit developers with an incentive to create and maintain affordable housing. ... Owners of and investors in qualifying developments can use the credit as a dollar-for-dollar reduction of federal income tax liability. Allocations of credits are used to leverage ...